Apartment Occupancy Sample Clauses


Apartment Occupancy. Except as expressly provided for in this paragraph, Employee may continue to occupy the apartment leased by Immune in which he currently resides under the same terms and conditions applicable at the time of employment. Employee’s occupancy shall terminate on a date no later than three months after the Termination Date (such date being the “Surrender Date”). Immune may, at its option, and at any time, provide notice to the landlord terminating the lease, provided that such termination shall not become effective prior to the Surrender Date. Alternatively, in the event Immune has not notified landlord of its intent to terminate the lease, Employee may, at his option and at his sole cost and expense, and with the consent of landlord, enter into a new lease for such apartment to commence no later than the Surrender Date. During the period of time in which the Employee continues to reside in the apartment he shall continue to abide by the terms of the lease and on the Surrender Date, the Employee will surrender and vacate the apartment vacant, undamaged and as otherwise required pursuant to the terms of the lease. Any security deposit (the “Security Deposit”) paid by Immune in connection with the execution and delivery of the lease shall remain the property of Immune and shall be returned to Immune. Employee acknowledges and agrees that he will be responsible for the return of the Security Deposit as well as any costs and expenses, including any hold-over rent and other charges levied by the landlord for Employee’s failure to surrender the apartment on the Surrender Date as required by this paragraph, and that Immune may withhold such amounts from the Employee’s Pay Continuation.